NSE removes Vedanta from its indices ahead of possible delisting

FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai | Photo: Reuters
Anil Agarwal-led Vedanta has been removed from all indices complied by the NSE ahead of its possible delisting.

The company is also part of the benchmark Nifty 50 index. The stock will be replaced by HDFC Life Insurance Company with effect from July 31. It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices. 

NSE’s index maintenance committee “has decided to replace Vedanta from various indices on account of proposed voluntary delisting. The changes shall become effective from July 31,” the exchange said in a release.

Last week, Vedanta obtained shareholders’ approval to delist. The company will soon launch the reserve book building process to delist.

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